Activist investor threatens proxy fight at CN over KCS deal

(Source: Bloomberg News, September 7, 2021)

NEW YORK — One of the largest shareholders in Canadian National Railway Co. said it’s prepared to launch a proxy fight to replace the company’s leader as the US$30-billion deal to buy Kansas City Southern faces possible collapse. London-based TCI Fund Management Ltd., which owns a 5 per cent stake in CN, plans to call a special meeting of shareholders to nominate five directors to the railway’s board with a mandate to replace its chief executive officer, Jean-Jacques Ruest. TCI, which is run by Chris Hohn, has engaged Kingsdale Advisors to aid in the fight.

Full story: Regina Leader-Post

Wednesday, September 8, 2021
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